The current Office space absorption in Bangalore is one the best in the country

Bangalore – One of the Asia’s hot office-space locations

Very recently, a headline has grabbed everyone’s attention, i.e. Bangalore is predicted to witness the second highest demand for being the city with 6.3 million sq feet office space absorption in Asia Pacific region, this year. This report was brought under public’s eye by reputed and global property consultant - Find Space Consultants.

Tokyo is expected to seize the 1st rank in 2014 by witnessing 7.6 million sq feet office space absorption, according to the report. Among 30 cities, Manila is crowned the third position by having 6 million sq feet office space demand. Another city from India, i.e. its capital has taken the 6th position with estimated 3.7 million sq feet office space absorption at Bangalore which turned out to be the hub of advance technology industries and in the mid 90s, when other states have merely developed; this city seized the limelight by nesting greatest number of IT companies in India.

 The Silicon Valley of India has relative advantages in the IT/ITES sector which is due to the presence of various factors likee

• high education facilities and skilled work force
• favorable state government policies
• accessibility to research laboratories
• foreign investors’ eye on the place

This article aims to find out the reasons for Bangalore’s being in the global news for its immense development in office sector.

Present scenario: Worldwide economic scenario has greatly affected IT/ITES industry, which has resulted in to the overall growth of particular sector in demand for Plug n Play offices in India. Dollar to rupee exchange rate has become more favorable and global economic picture has also enhanced. This will lead to increasing exports of Information Technology services from India. As a result, IT companies are expected to expand. Since, maximum numbers of IT companies are located in Bangalore; it will give a boost to office space absorption. The growth is estimated to be 16% more than previous year.
     
Balance distribution of office locations: Already stuffed office locations like Electronic City, Central Business District, Indira Nagar and Offices at Koramangala are facing congestion, heavy traffic and mismanagement due to over demand offices. But still Bangalore has continued to be the hot spot with its perfect extension plans and plot allocations in the suburban locations like Outer ring Road belt, Whitefield etc.

Increased interest of startups: Globalisation and urban restructuring has welcomed huge networks of engineers, techie minds with international work experience, tech savvy customers and rocketing pool of fund providing companies like SAIF, Light speed, Canaan Partners etc. As there are many investment, fund providing companies and favourable government policies, approval of start up funds is easy. The start up companies find it easy to follow the success track of mentors which are globally reckoned firms. New ventures can easily pick up experienced employees from the huge reservoir. Besides, it has already become the brand ambassador of cutting edge technology. These factors are renovating the city into a global start up centre.

Purchasing plug and play office in right location for good results

The rising demand of office spaces in the IT sector of India, Bangalore

Are you wondering the best area for setting up your business? Are you looking for an area to purchase a new office space? Well, then how about purchasing an office area in Bangalore? This city is one of the well-known business hubs in India and is famous for its office in bangalore IT sector. It is one of the major economic contributors in India. In fact, it can prove to be the best area for flourishing and expansion of your business. The city of Bangalore ranks first in housing international business organizations and corporate firms. Purchasing an office space requires huge finance and it is not a child’s play. There are lots of factors that one needs to take into consideration while purchasing an office area.

Initially, you need to understand your requirements. Apart from that, you also need to determine the entire work area which you need for conducting the business operations. In case you choose a small office and hire a huge workforce to accomplish the tasks, Furnished offices have become quite popular nowadays because they are equipped with all the modern facilities. If you are also planning to purchase one such office space, then it is suggested that you check out for the modern facilities which include conference room, lunch room, seating arrangements for employees, bathrooms, etc.

then it can put a negative impact. On the other hand, if you choose a huge office area that is far more from the actual work space that you need for functioning, then it is just a waste of money.

Checking quality of furniture and other office materials  

You need to take care of the seating arrangements on the basis of the size of your company. You can choose from the various options available like cubicles, cabin, bubble etc. If you need to often discuss projects with your employees or interact with them, then it is better to go for a cabin style. Are you worried because you have a small budget in hand? Well, there is nothing to worry about it because you can easily come across commercial spaces at cheap prices. In case you are planning for a small business, then it is suggested to not to waste money by opting for a huge elaborated office space in koramangala area. If you search thoroughly, then you will easily come across small office spaces within limited budget.

Now the question of finding a suitable office area becomes the main question, especially in a city like Bangalore. Finding office spaces in Bangalore is not an easy task. You need to find a suitable area so that your employees can accommodate comfortably. In fact, the environment also plays an important role in increasing the work productivity and success of your business. The price for per square varies from one builder to another. Research the market carefully to ensure that you strike a profitable deal. Furnished offices can prove to be more economical and convenient. You can start your work no sooner you purchase them.